ONEOK, Inc. (NYSE:OKE) Shares Purchased by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,654 shares of the utilities provider’s stock after buying an additional 1,263 shares during the quarter. ONEOK comprises about 3.0% of Cadent Capital Advisors LLC’s portfolio, making the stock its 9th biggest holding. Cadent Capital Advisors LLC’s holdings in ONEOK were worth $8,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. HM Payson & Co. increased its stake in ONEOK by 6.3% during the 3rd quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after buying an additional 105 shares during the period. Claro Advisors LLC grew its position in shares of ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares in the last quarter. Haverford Trust Co increased its stake in shares of ONEOK by 1.2% during the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after buying an additional 117 shares during the period. Brighton Jones LLC raised its holdings in ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 122 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its holdings in ONEOK by 1.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OKE shares. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective for the company. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. UBS Group upped their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Scotiabank began coverage on shares of ONEOK in a research report on Friday. They issued a “sector outperform” rating and a $109.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

ONEOK Stock Performance

Shares of NYSE OKE traded up $2.10 during mid-day trading on Monday, hitting $103.85. 1,678,975 shares of the company were exchanged, compared to its average volume of 2,493,853. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm has a market cap of $60.67 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 5.24 and a beta of 1.70. The stock has a 50 day simple moving average of $105.63 and a 200-day simple moving average of $94.95. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the firm posted $0.99 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.81%. ONEOK’s dividend payout ratio is currently 82.85%.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.